Tds returns

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pvsrikanth (Querist)
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14 September 2011 DEAR SIR,

WHILE PREPARING TDS RETURNS STATEMENT CAN WE PREPARE QUARTER WISE WHENEVER PAYMENT MADE OF TDS. IT MEANS SUPPOSE I HAVE PREPARED APRIL TO JUNE TDS AMOUNTS BUT THOSE AMOUNTS PAID IN NEXT QUARTER.EVENTHOUGH I HAVE TO SHOW AMOUNTS IN FIRST QUARTER OR NOT?

CA Rajeev Bansal

CA Rajeev Bansal (Expert)
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14 September 2011 TDS is deducted at the time of payment of an expense or amount credit in the party account whicxhever is earlier.

so if the payment is deposited in the next quarter theen it pertains to previous/ first quarter. thus you have to mention this challan in the first quarter. you must deposit TDS amount with interest so that there is no default generated by the system